David Marriott To Replace Bill Marriott As Chairman Of Global Hotel Giant
Bill Marriott is planning to step down from his role as chairman of Marriott International's board after more than four decades leading the company. Marriott CEO Arne Sorenson announced on the firm's earnings call Tuesday Bill Marriott, 88, would transition to chairman emeritus in 2022 and would be replaced by his son, David Marriott. The company also detailed the financial challenges it faces as the coronavirus continues to damage the hotel industry. The son of founder J.W. Marriott, Bill Marriott became CEO in 1972 and chairman in 1985, the Washington Business Journal reports. Sorenson took over as CEO in 2012. "For now, Bill, let me say thank you," Sorenson said on the call, according to a SeekingAlpha transcript. "To me, you are a boss, a mentor, a friend and truly, family. I cannot imagine a time without your partnership and friendship, and I pray that there are many more years ahead for us."
Bill Marriott is planning to step down from his role as chairman of Marriott International's board after more than four decades leading the company. Marriott CEO Arne Sorenson announced on the firm's earnings call Tuesday Bill Marriott, 88, would transition to chairman emeritus in 2022 and would be replaced by his son, David Marriott. The company also detailed the financial challenges it faces as the coronavirus continues to damage the hotel industry. The son of founder J.W. Marriott, Bill Marriott became CEO in 1972 and chairman in 1985, the Washington Business Journal reports. Sorenson took over as CEO in 2012. "For now, Bill, let me say thank you," Sorenson said on the call, according to a SeekingAlpha transcript. "To me, you are a boss, a mentor, a friend and truly, family. I cannot imagine a time without your partnership and friendship, and I pray that there are many more years ahead for us."
